Mining & Metals

Mining the opportunities

With a strong but volatile outlook for the sector, the global mining and metals industry is focused on future growth through expanded production, without losing sight of operational efficiency and cost optimisation. The sector is also faced with the increased challenges of changing expectations in the maintenance of its social license to operate, skills shortages, effectively executing capital projects and meeting government revenue expectations.

EY’s Global Mining & Metals Center brings together a worldwide team of professionals to help you achieve your potential. Based in Sydney, our team is dedicated to offering industry insight and coordinating a network of more than 2,200 mining and metals professionals in 150 countries, who will develop practical alternatives and provide tailored solutions to the issues you face.

Mining and metals businesses face risks that are becoming more extreme and more complex, with resource nationalism, skills shortage and infrastructure as the top three, and the newcomer being sharing the benefits.

While the demand outlook remains strong, the price peaks have passed and so there is a much greater imperative for mining and metals companies to remain nimble and sure-footed in how they manage these fast-changing risks.

Balance sheets are stronger, with many companies faced with the challenging but positive decision of how best to utilize their capital — the dilemma of buy, build or return is back on many boardroom tables.

We can help you to make better and more informed decisions about how to strategically manage capital and implement transactions in the ever-changing mining and metals sector.

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Resource nationalism has remained in the top risks facing mining and metals companies for the past five year as seems to be picking up pace as governments seek to transfer even more value from the mining and metals sector.

Many governments around the world have now gone beyond taxation in seeking a greater take from the sector, with a wave of requirements introduced such as mandated beneficiation, export levies and limits on foreign ownership.

We closely follow resource nationalism, how it affects our clients and steps mining and metals companies can take to respond to this risk.

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The refining IFRS series aims to examine the complex, but unique, issues faced by mining and metals companies applying IFRS. These issues will be considered in the context of recent and current developments in the global mining and metals market place.

Our Good Mining Guide is an illustrative set of consolidated financial statements, prepared in accordance with International Financial Reporting Standards (IFRS), for Good Mining (International) Limited (Good Mining), a fictitious group of mining companies. Good Mining specifically focuses on IFRS issues and the relevant disclosures as they relate to the mining and metals sector.

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